Baltic index inches up on increased capesize activity

The overall index, which factors in rates for capesize, panamax, supramax and handysize shipping vessels, inched up 2 points, or 0.18 percent, to end at 1,097 points.

“Following seasonal weakness in the dry bulk sector resulting from the Chinese New Year, we believe the outlook for the dry bulk shipping market is both clear and bright,” analysts at Jefferies said in a note on Tuesday.